Discuss the relationship between business and society? (30 marks) A business is also known as an enterprise or firm. It is an organization designed to provide goods and services or both to consumers. Businesses are predominant in capitalist economy. A society may be defined as a community or a large group of people having common or different traditions, cultures and values. The environment of society is a key concept of understanding business and society relationships. The social framework in which the organisation exits is known as the macroenvironment and it is composed of four segments namely: social,economic,political and technological.These are described briefly below: Social environment focuses on demographics, lifestyles and social values. Economic environment focuses on the economy. Political environment focuses on the legislative process, election process and the interaction between firms, politics and government. Technological environment focuses on the changes in technological advancement. Businesses interact within their community in different ways and for different reasons and their interaction with it is an important part of social integration and conduct. In the past that interaction was largely limited to the ir local environment, consisting of the people from whom the business drew its employees and where it mostly sold its goods and services. There was a local relationship and philanthropy played a large part in how the business interacted with its community. Others however went further and saw a role in improving working conditions and in the development of wider social infrastructure, such as housing, education and health care. Businesses have, therefore, always played a key role in the economic and social development of the communities in which they operate. As outlined above, they generate employment opportunities and profits and thereby contribute substantially to improving the quality of life for their...

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...production of goods or services for profit. It could also be defied as a social and economic system where capital assets are mainly owned by private individuals, where labor is purchased for money wages, capital gains accrue to private owners, and the price mechanism is utilized to allocate capital goods between uses.
Capitalism is characterized by private ownership of factors of production and the government of the nation does not interfere in the economic activities of the country. It can also be referred to as ‘Free Market Economy’.
CHARACTERISTICS OF CAPITALISM
* Private ownership of property: In a capitalist economy, people have full right to use their private property anyhow they like without the intervention of the government. Property can be passed to successors in case of the owner’s death.
* Price mechanism: In capitalism, price is determined by the forces of demand and supply. Government does not interfere in the fixation of price.
* Consumer sovereignty: In this economy, consumer is sovereign; he only buys those things which give him maximum satisfaction.
* Freedom of enterprise: In capitalism, every enterprise is free to choose any business it deems fit and can also take independent decisions on its own.
* Profit motive: Capitalism also based on profit maximization.
* Competition: Capitalism leads to more and more competitions which ultimately results in efficiency of industrial units and...

...INTRODUCTION
The world today believes in change and liberation due to beliefs and values of every society, the quality of living based on individual decisions and moral values are critical in building and of businessrelationship. It is therefore vital to understand how business and society can be governed and all manner of people and races respected. Every society has taboos and social entities that control its environment; however business and society is based on values that can be created by others though scientific research. According to Weber, The Protestant Ethic is a starting point towards understanding the multiple dimensions of social change. The relationshipbetweenbusiness and ethics is interlocked in the sense that a successful company is one which can effectively maintain the relationship which exists between them and the other parties.
For effective corporate management, organization varies due to policies and systems of operation in service deliver, most professionals governed by professional code of ethics invent individual personality. Religious beliefs critically affect each individual spiritual being. Today businesses that have strong corporate codes of ethics are performing well in the long-term. Government policies and competition is vital for survival in every...

...Films do not exist in a void, and this is especially the case for thriller films made in Hollywood. There is an essential relationship that exists between Hollywood thrillers and American society which can be seen in the development of thrillers' stories, ideas and characters. It is also because of this relationship that thrillers have continued to be one of the most popular film genres today.
It is hard to deny that thrillers have a major influence on American society. To a large extent Americans owe much of their culture of fear to film thrillers. Thrillers have both reinforced and established the people and situations that society should be afraid of at the time. Alfred Hitchcock pioneered the way for film thrillers, his films such as Psycho [1960] creating a fear of those with mental illness that is still reinforced in later films such as Swimfan [2002], directed by John Polson. He recognized that audiences loved to be "scared out of their wits" while safely sitting in a movie theatre. Thrillers simply preyed on these fears, and continue to do so today.
With their everyday characters, thrillers created believable yet frightening situations that society can be afraid of. As thrillers developed, they became more relatable in that they were made in context with what was most scary at the time of release. The villain in Philip Noyce's Dead Calm [1988], for example, was...

...The following essay will concentrate on the reciprocal relationshipbetween the media and society, focusing on journalism in particular. A brief overview of the terms used in this essay will be used first to create a common understanding. This will be achieved by discussing theories regarding mass media and journalism as separate entities. The two will then be combined to discuss how mass media affects , and is affected by society. This will be done by referring to the many theories regarding journalism and mass media and how thy correspond with society using theories such as the normative press theories.
To understand the effect of something, one first needs to understand the subject itself. Therefore to discuss the effect of mass media, one must fully understand the concept of mass communication and how it functions as an integral part of society. Only once this concept is understood, can it be discussed as a reactor to change in society. The paragraph following will explain the phenomenon of mass media.
Mass communication can simply be described as a message sent to a large audience. The audience that the message is referred to as a homogenous audience. This means the audience has a varied mix of people within it. The message can therefore be considered to be completely unbiased as many different types of people will be exposed to it. This however, is not true. When...

...economy’s ability to produce goods and services
Gross Domestic Product- represents the value of a country’s national income in one year.
An increase in real GDP means that the standard of living within a country is increasing. It is therefore used as a way of measuring a country’s economic growth.
The Business Cycle- there are discernable patterns in these levels over time, there will be periods of time when economic activity is rising and other times when the level of economic activity slows down.
The Business Cycle
The Four Stages of the Business Cycle are:
Boom: A period of very fast economic growth, with rising incomes and profits. Inflation will rise and there will be shortages of key skilled worker, leading to high wage increases. High inflation will make the country less competitive, and business confidence will eventually fall due to rising cost.
Interest rates are increased to slow down growth.
Recession/Downturn: Demand stats to fall as interest rate rise. Real GDP stats to slow and will eventually fall. Incomes and demand fall, as do profits. Some firms will be forced out of business.
Possible Strategies during a recession:
• Close down arts of the business and make redundancies
• Develop new products that appeal to customers as income fall
• Lower price to maintain sales
• Look to expand, as prices will be much lower than during a boom
• Target growth...

...
The RelationshipBetween the Artist and Society
The relationship held by society and the artist is universal, applying mathematically, in literature, and nature. In physics, for every action there is a reaction. The apple does not fall far from the tree, for we often find refuge in our animal instincts. Throughout evolution, figures may have changed, but our fight or flight instincts are still remain strong. Withinsociety, when a person is being ‘attacked,’ be it words or fists, they will fight back, protecting themselves. This is how artist react to society: two lions on the prowl, lunging at one another to see who will prevail in effectiveness and strength. In society, this battle has yet to be won. However, H.L. Mencken creates an elaborate false hatred betweensociety and the artist, instigating by creating problems that are not really there. Neither side is out to get the other.
Trendsetting artists like the narrator in Virginia Woolf’s, A Room of One’s Own, who break societies shell do not mix well with the close-mindedness of society. Society’s mind is a tunnel, never open for other ideas or modifications. There is only one-way in and one-way out: one path to travel. There are no other possible routes or changes to the mindset. The idea of someone, an artist or more specifically in the time...

...significantly boosted economic growth in East Asian economies such as Hong Kong (China), the Republic of Korea, and Singapore (Rodrik, 1998). But not all developing countries are equally engaged in globalization or in a position to benefit from it. With the use of the World Bank, the IMF, and the WTO, many of the countries are more able to actively engage in globalization, and all of the benefits that come with it. The balance of globalization's costs and benefits for different groups of countries and the world economy will always be the topic of many developmental debates.
References
Investopedia, Inc. (2013). Definition of World Trade Organization (WTO). Retrieved from:
www.investopedia.com/terms/w/wto.asp
McGraw-Hill Create. (2013). Business and Society. McGraw-Hill Companies. United States. p.
152-154.
Rodrik,R. (1998). Has Globalization Gone Too Far? Washington D.C. Institute for International
Studies.
WebFinance, Inc. (2013). Definition of Globalization. Retrieved from:
www.businessdictionary.com/definition/globalization.html
...

...ch01
Student: ___________________________________________________________________________
1. 2. 3. 4.
General Motors has been called a "template for 21st century capitalism." True False A business is any organization that is engaged in making a product or providing a service for a profit. True False Businesses and society are independent of one another. True False The stakeholder theory of the firm argues that a firm's sole purpose is to create value for its shareholders. True False The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society. True False The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a more realistic description of how companies really work. True False Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out its primary purpose of providing society with goods and services. True False Market stakeholders include nongovernmental organizations and the media. True False Each stakeholder group has only one source of power in relation to a firm. True False
5.
6.
7.
8. 9.
10. The interests of different stakeholders often coincide. True False 11. Stakeholders involved with one part of a company often may have little or no involvement with another part of the company. True False...

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